India Industrial Gases Market By Type (Oxygen, Argon, Nitrogen), By End User (Metallurgy, Medical, Petrochemicals, Welding, etc.), Competition Forecast and Opportunities, 2011 – 2021
Nitrogen, Oxygen and Argon are the most commonly used industrial gases. They are used in a wide range of industries, which include oil & gas, petrochemicals, chemicals, power, mining, steelmaking, metals, environmental protection, medicine, pharmaceuticals, biotechnology, food, water, fertilizers, nuclear power, electronics and aerospace. With increasing government initiatives towards developing India’s manufacturing sector, coupled with rapid industrialization, demand for industrial gases is anticipated to grow at a robust pace over the next five years. Petrochemical sector, which is one of the major end users of industrial gases, is anticipated to grow at a CAGR of 13% during 2015-2020, thereby boosting demand for industrial gases in India over the next five years.
According to TechSci Research report, “India Industrial Gases Market By Type, By End User, Competition Forecast and Opportunities, 2011 – 2021”, the market for industrial gases in India is projected to reach US $ 2.2 billion by 2021. Owing to increasing demand and rising competition, an increasing number of industrial gases companies in India are investing heavily on capacity additions at existing as well as new end user facilities. Additionally, an increasing number of large-scale end users are also installing industrial gas production units within their premises for ensuring continuous supply of industrial gases. Few major end use consumers of industrial gases in India include Tata Steel, JSW, Bhusan Steel and Vedanta. “India Industrial Gases Market By Type, By End User, Competition Forecast and Opportunities, 2011 – 2021” discusses the following aspects of industrial gases market in India: